Decide Gives Recommendations Regarding E-commerce

To buy or not to buy? With Decide consumers do not have to worry about this question anymore as Decide helps consumers with data-backed recommendations whether to buy now or wait for a new upcoming product.

Decide is a shopping service helping consumers to purchase electronics and home appliances at the right moment at the right price. Their predictive algorithm tells shoppers when the price will drop or a newer model will be released. This allows consumers to buy their equipment for the best price.

Decide is not about marketing but uses data and technology to help consumers. Their machine learning and text mining algorithms analyse billions of price points across blogs, articles, products or websites to help consumers make the best buying decision possible.

With the app that Decide has developed, consumers can find out about the best price point live when they are in a store. The Decide Score, incorporating expert reviews and scores of previous models, gives users useful product recommendations when they needed it best. Decide claims that their predictive model is right 77% of the time and that users can save on average around $ 101 per product.

Decide is growing fast and their iPad App has already been downloaded over 100.000 times providing 7 million recommendations and thereby potentially saving consumers around $ 77 million.

You could note that the price of electronics always goes down but Decide found out that in the short run there are large price swings. This is where Decide want to provide value. Decides business model is to make money from redirecting consumers to the retailer with the best price. Lets call it data-driven affiliate.

At the moment Decide focuses on electronics, appliances, tools, sports equipment and lawn and garden products and the goal of Decide is to build a brand that consumers rely on for credible recommendations. With big data creating these opportunities they want to create the next-generation consumer advocacy service. While doing this Decide is backed with $ 8.5 million venture capital and has gained support from consumer internet and e-commerce veterans. There are many online recommendation services and also Google uses big data to provide recommendations to consumer. The difference that Decide provides is that it scans reviews with the algorithms and normalizes user reviews, discounting older and out-of-date reviews. This new approach caught our attention and we believe that there is a bright future ahead for Decide as consumers always want the best price for a product. At the moment, Decide.com is only available from US e-commerce stores. Therefore, BigData-startups rates Decide with a 6 bits rating.

Update March 22: Decide raises another $ 8 million in Series C funding